What we do Alpex Solar Ltd manufactures solar photovoltaic modules and provides integrated solar energy solutions including EPC of solar pumps, serving B2B and B2C markets. |
Founded in 1,993 |
Market share Leading reputable solar PV manufacturer in North India with a growing 1.2 GW capacity and partnerships with major companies like Tata Power. |
Problem solved Offers affordable, clean energy solutions reducing dependence on fossil fuels and enabling solar power adoption in industrial and rural sectors. |
Top clients or who we serve EPC companies like Solarworld Energy Solutions, BVG India, Tata Power, and B2C solar pump customers via government tenders. |
Key management Mr. Ashwani Sehgal (Founder and Managing Director) leads a diverse, experienced Board with strong governance. |
Our journey and innovations Founded in 1993, entered solar manufacturing in 2008, converted to public limited in 2023, IPO raised Rs 74.52 Cr in 2024. |
Where we operate Primarily India with minor exports; expanding capacity and acquired subsidiaries to strengthen presence. |
Top products or what we offer Solar PV modules using mono/polycrystalline technologies and solar water pumps with EPC services. |
Top brands Contract manufacturer for Luminous, Jakson, Tata Power; delivers to prominent EPC firms. |
Raw materials needed Silicon cells, glass, metals for PV module assembly. |
Raw materials supplier Not specified in available data. |
Recurring vs cyclical contribution Revenue mainly from manufacturing (solar panels) and EPC contracts; moderately recurring with cyclical government tender projects. |
Our industry position Respected in North India's solar manufacturing, capacity expanding to 1.2 GW, growing financials affirm rising market position. |
Financial highlights FY 2025 revenue Rs 782 Cr; PAT Rs 83.5 Cr, with EBITDA margin 16.4% and strong year-on-year growth. |
Geographical revenue split Revenue India Rs 779 Cr; minor export 0.84 Cr. |
Order book - |
Whats driving growth Government solar incentives, rooftop and irrigation demand, increased capacity, and strategic acquisitions. |
Our future plans Expanding authorized capital, preferential share issues for Rs 261 Cr to fund growth and capacity expansion. |
Our green promise ISO certifications for quality, environment and safety; supports solar energy adoption reducing carbon footprint. |
Our people and values 232 employees; inclusive culture with emphasis on training, diversity, safety, and progressive HR policies. |
Key challenges ahead Competition, supply chain stability, policy changes, and maintaining growth and profitability. |
Interesting facts Rapid IPO success and large capacity scale-up to 1.2 GW within a decade of solar business start. |
Risks and strategy Mitigates policy and market risks via diversified client base, robust governance, and risk management framework. |
